Business Strategy and Growth

2 Key Strategies To Help You Navigate Today’s Complex Sales Market

Today’s complex sales environment presents big challenges, but it also brings big opportunities. Learn about the barriers to success and how to scale them.

Meta image2_Strategies for Complex Sales Success-06
As a business leader managing sales, you’re probably doing most things right. You’re creating high-value, competitive solutions that offer many sources of value for an organization. You’re presenting outstanding services to help your customers implement and succeed with those solutions.

But that’s where the trouble starts.

All this value and all these areas of impact make the purchasing decision complex, like figuring out a single traffic sign that displays multiple sets of stop lights.

When making a complex sale, if you focus only on presenting and managing solutions, you’re assuming that your customer already understands their problem. But, for many customers, that’s simply not the case.

As president and CEO of Prime Resource Group, I’ve helped companies like Shell, HP, Honeywell, and 3M develop their business strategies. I’ve written books about high-stakes sales, including Mastering The Complex Sale.

And I’ve noticed something that CSO Insights, which produces annual reports on sales enablement, has revealed as well: More and more sales are being lost not only to competition—but also to the customer’s lack of a decision. In 2008 CSO Insights’ global research revealed that 49% of sales outcomes were wins, 30% were competitive losses, and 21% ended with no decision by the customer.

By 2019, 32% of sales yielded wins, 34% were competitive losses, and 44% resulted in no decision. There’s plenty of talk now that the “no decision” figure these days is closer to 50%.

That’s about half of sales that are left on the table because the customer couldn’t figure out what to do. Instead of buying—from you or anyone else—they stuck with the status quo.

Are you ready to shift those “no decisions” to sales wins? Start by identifying:

 

3 Challenges Of The Complex Sale

Sales professionals are trained to describe a solution, not serve as a contributor who helps identify a problem. You know to tell a customer how your product or service works and what it’s done for other people.

But the customer needs something else from you first.

The customer needs guidance to help them understand their problem. But there are obstacles you need to overcome to make the problem clear—and then show how your solution resolves it.
The following are the 3 main challenges of the complex sale.

Challenge 1: Decision

If you’re thinking about professions to emulate for providing guidance to customers, consider certified public accountants (CPAs), attorneys, engineers, or architects. Their work has one thing in common: It starts with guiding clients through an organized, thorough, cross-functional, and objective decision process.

To what degree are you and your sales team providing guidance to your customers, helping them make a decision in a quality, informed fashion?

Challenge 2: Change

When you’re guiding the customer’s decision, you’re not guiding a decision to buy. You’re helping them make a decision to change.

It’s only after a customer decides whether to change that they decide what to buy to facilitate that change. But change is painful. I believe that most of the customers who fall under the “no decision” umbrella mentioned earlier do so because they never decided to change.

Are you ensuring that your solutions are relevant to the customer by first showing them why they need to change?

Challenge 3: Value

A customer must recognize what it costs to not have your solution and what they might get back if they make the change. And they must be able to measure that value.

Are you and your team equipped to help customers understand—in quantifiable terms—the net profit that’s at risk if they remain in their current situation?

2 Strategies For Overcoming Complex Sales Challenges

Now that your complex sales roadblocks are clear, what strategies can you employ to overcome them? How do you assist customers in decision-making, encourage them to make a change, and show them your solution’s value?

The following 2 strategies can help you blast through the biggest complex sales barriers.

How to overcome main challenges in the complex sale-02

Strategy 1: Guide Your Customer’s Decision-Making

Become the advisor your customers are seeking by considering the key milestones in their decision-making process, recognizing the limits to their understanding of the problem, and identifying the signs that they’re ready to buy.

Milestones Of A Business Decision

While there are a dozen or more milestone questions a customer considers when making a decision, the following are some of the biggest:

  • Are our profits at risk?
  • Should we invest resources to measure the risk?
  • What is the level of financial risk impact?
  • Does the level of financial risk warrant action?
  • What is the desired outcome?
  • Can that outcome be achieved?


Help customers work through these milestones, paying particular attention to Number 4. You will know the customer is taking your proposed solutions seriously when they can answer yes to “Does the level of financial risk warrant action?”

Understanding Of Business Problems

Customers typically bring to the table 24% comprehension of the problem and solution. That means if you lead by offering a solution, the customer will understand about 24% of what you’re describing—and probably will be willing to pay about 24% of your price.

Be a contributor in the decision-making process by providing your customer with deep insight into the problems and risks they’re facing.

Behaviors In The Decision-Making Process

The decision-making process includes distinct phases and behaviors that progress through the customer’s willingness to make a change. These steps represent the diagnostic phase of the complex sale.

Listed from low probability of change to high probability of change, the phases and their behaviors are:

  • Satisfied
    The customer sees no problem and likely will be defensive about any proposed change.
  • Neutral
    They are comfortable and not expressing interest in taking action.
  • Aware
    They recognize this problem is happening to others like them.
  • Concern
    They understand the problem is happening to them but aren’t sure about its impact.
  • Critical
    They’re learning about the problem’s cost to their company.
  • Crisis
    They realize the scope of the problem and the urgency of taking action.


Help the customer progress through these phases by building awareness of the issues they face if they don’t take action.

Strategy 2: Present The Financial Impact Of Your Solution

The key to connecting with your customer about the solution’s value is to make it quantifiable. The figures you provide don’t have to be exact, but they do need to be thorough. Here are tips to help you make your solution’s financial impact clear:

Approximate The Dollar Amount

Your customer likely doesn’t have a handle on how to measure the impact of the problem, so assist them by presenting the best figures you can gather from the affected business areas. The numbers don’t have to be exact. Companies frequently use approximated figures to predict outcomes.

Start by identifying the processes that are problematic, and then connect dollar figures to the impact of those problems.
Quotes-03

Provide A Complete Picture

In most cases, estimates of a business problem’s cost provide an incomplete picture. In fact, most business cases express less than 10% of the actual value of the problem’s impact.

Provide a comprehensive analysis of the financial impact by considering all angles, including every affected business area and process and each type of cost. Here are the numbers to factor into your cost calculations:

  1. Direct numbers
    Items already measured (number of customers or returned shipments, for example)

  2. Indirect numbers
    Items that are estimates (the percentage of customers who will dislike a type of packaging, for example, and the percentage of those unhappy customers who won’t buy again)

  3. Opportunity costs
    Options for what the customer could do with the money saved by implementing your solution—and the return on that investment

 

Succeed In Today’s Complex Sales Market

You know you face some big obstacles in making complex sales—but you’ve also got some winning strategies for overcoming them. Now I hope you’ll build on this knowledge and find a formula that helps you and your sales team succeed.

Here are 2 resources for making that happen:

  1. Watch the replay of my recent webinar “Value Over Price: The Survival Guide For Today’s Sales Teams In A Highly Complex Market.”

  2. Grab your spot in my Master Business Course “Mastering The Complex Sale.”

Implement A Powerful Process To Effectively Close Real Business!

New call-to-action
Jeff Thull

Jeff Thull

As President and CEO of Prime Resource Group, Thull has designed and implemented business transformation and professional development programs for some of the world’s best known companies, from Shell to Microsoft. Learning from the strategies he has used to help these leading firms will help you achieve your sales goals for 2020. If you’re not satisfied with where your sales are today, we recommend that you make time for every member of your sales team to watch this seminar this week.

Latest Articles

Venture Capital Funding Is Like Russian Roulette. Here’s A Better Way

Venture Capital Funding Is Like Russian Roulette. Here’s A Better Way

Discover why "Customer-Funded Growth" is an excellent investment source to scale your business and avoid negative returns or uncertainty.

Struggling With Employee Retention? These 5 Tips Can Help

Struggling With Employee Retention? These 5 Tips Can Help

In this article, I’ll share some culture-driven retention ideas and include some of my own tips that boost employee satisfaction.

Challenging Sales Climate? Unlock The Door With These 2 Sales Strategy Keys

Challenging Sales Climate? Unlock The Door With These 2 Sales Strategy Keys

From COVID-19 to inflation, challenges to successful sales abound. Overcome obstacles by following these strategies from 2 top sales though...